Synopsis

A provocative critique of the Obama administration's economicpolicies and an examination of America's difficult economicfuture

During the 2008 presidential campaign, Barack Obama promised "anet spending cut" to make government smaller in order to reduce thedeficit. But this huge increase in government spending and debt,and the resulting prospect of higher taxes, will make America apoorer country. Are Americans happier because the government hasdetermined where this money should be spent? According to John Lottand Americans for Tax Reform President Grover Norquist, the answeris no, and in Debacle: Obama's War on Jobs and Growth and WhatWe Can Do Now to Regain Our Future they explain why.

Obama's economic policies have raised unemployment, slowedeconomic growth, dramatically raised the national debt, squanderedtaxpayer money through poor investments, and damaged the housingmarket. The book explains why Obama's policies on spending, taxes,and regulation have all worked to harm the recovery, increaseunemployment, and depress housing prices.

The Congressional Budget Office estimates that the deficitsthat President Obama proposes for the years from 2011 through 2020come to a staggering $126,000 per family of four, and John Lott andGrover Norquist make clear why the costs outweigh the benefits

Explains why Keynesian economics is more a way of transferringwealth to political constituencies than a legitimate economictheory for understanding how the economy operates

Posits that Obama's economic policies were more an opportunity"to do big things" than to solve the country's economicproblems

Arguing that the policies of the Obama administration havecreated widespread economic chaos, Debacle is a bleak lookat American finance from Grover Norquist.